The Georgian Real Estate Market remains a newly and recently opened market for foreigner buyers and investors. But the economy and the political stability of the country are aimed to develop and attract new potential for international clients. And it is the perfect moment to invest in property in Georgia due to improved financing and a fast growing economy. In this article we will talk about where to find the right property for investment in Tbilisi, the capital of Georgia.
Real Estate Development Trends in Tbilisi
Tbilisi is the most important city in terms of buying and selling property in the whole country.
Approximately 40% of sales were in the Tbilisi Region, of which 65% was driven by newly constructed apartments and complexes.
Mainly, people have chosen to buy in Saburtalo, Didi digomi, Isani and Samgori districts. The reason is the price, which is cheaper than in Old City. But also, these districts are renovated or still under construction, and very close to the center with a good infrastructure.
Of course, there are other interesting and unique districts such as Old Tbilisi and Mtatsminda.
Old Tbilisi has a lot of potential for investment, because it’s the heart of the capital, and all touristic and historical places are 10-20 minutes away on foot. Almost everywhere are buildings of the 19th or first half of the 20th century that might require some investment to maintain it.
Mtatsminda district is located on the mountain and has a beautiful view of the city. Today, it’s considered as the most expensive district in Tbilisi. However, if you’re interested in buying or renting a property there, you should plan to get a car or another transport. The reason is that it’s more difficult to reach the center or stores, compared with the other central districts.